In myelodysplastic syndrome (MDS), some of the blood forming cells in bone marrow become abnormal and have problems in forming new and mature blood cells. The immature blood cells called as blasts get stored in the bone marrow and blood, and obstruct the natural function of the hematological system, which results in depletion of healthy red blood cells, platelets, and white blood cells. It is usually observed in geriatric population and more often in older men compared to women. For instance, according to the American Society of Clinical Oncology (ASCO), age plays an important role in the occurrence of myelodysplastic syndrome, as most of the people diagnosed with the disease are of age 65 and older.

Moreover, increasing possibility of MDS to further progress into rapidly growing cancer of bone marrow cells called acute myeloid leukemia (AML), leads to increasing efforts by key players develop highly effective therapies for MDS treatment. Furthermore, rising awareness about MDS and its symptoms with advanced methods and techniques for early diagnosis and treatment for various forms of the MDS is expected to drive the market growth over the forecast period. Increased understanding of the pathology of the syndrome is directing the research towards developing more specialized and symptom based treatments with effective costs, so that MDS patients can avail these benefits.

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The increasing prevalence of MDS is expected to drive the demand of drugs used for the treatment of MDS, thereby expected to drive the U.S., Europe, and China myelodysplastic syndrome treatment market growth over the forecast period. Incidence rate for myelodysplastic syndrome has witnessed an increase in the last few years as the average population is ageing every consecutive year. For instance, according to the American Cancer Society report 2018, over 10,000 new cases of MDS occur in the U.S. every year, which is expected to boost the market growth.

The COVID-19 pandemic has affected various industries globally. The players operating in the myelodysplastic syndrome (MDS) treatment market are facing major challenges on various fronts due to the COVID-19 pandemic. Supply chain and manufacturing activities in China, Italy, Spain, the U.K., and the U.S. have been disrupted due to lockdowns implemented by governments in the past few months, while countries such as Saudi Arabia, UAE, Egypt, and others are facing problems with regards to transportation of drug products. Moreover, various manufacturing companies are facing shortages of pharmaceutical products used for treatment of various diseases such as blood cancer, MDS, and others due to outbreak of COVID-19 pandemic. For instance, in December 2020, the U.S. Food Drug and Administration announced the shortage of Azacitidine for injection in the U.S. Azacitidine for injection are indicated for the treatment of myelodysplastic syndrome (MDS) and other cancers.

Major players operating in the myelodysplastic syndrome (MDS) treatment market include Bristol Myers Squibb, Otsuka Pharmaceutical Co., Ltd., Teva Pharmaceutical Industries Ltd., Mylan N.V., Dr. Reddy’s Laboratories Ltd., Sun Pharmaceutical Industries Limited, Cipla Limited, Acceleron Pharma, Inc., Onconova Therapeutics, Inc., Aprea Therapeutics, Geron, Fibrogen, Inc., Jazz Pharmaceuticals, AbbVie Inc., Lixte Biotechnology Holdings, Inc., Gilead Sciences, CrystalGenomics, Inc., ALX Oncology Inc., and Keros Therapeutics.

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The post Myelodysplastic Syndrome (MDS) Treatment Market to Surpass US$ 3,404.1 Million by 2027 a CAGR of 7.6% over the forecast period 2020-2027) appeared first on Gatorledger.